FT News Briefing Boeing races to avoid credit downgrade
Oct 29, 2024
Claire Bushy, an FT reporter with deep insights into Boeing's financial turmoil, shares details on the company's $19 billion share sale aimed at avoiding a credit downgrade. She highlights the implications of Boeing's $6 billion loss and job cuts in the aerospace sector. Joining her is Taylor Nicole Rogers, who addresses the alarming challenges of recruiting poll workers in the U.S., exacerbated by threats and violence. Their discussion underscores a crucial moment in navigating corporate and civic responsibilities.
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PwC Asia Revenue Decline
- PwC's revenue in Asia declined by almost 6% due to scandals involving Evergrande and confidential information leaks.
- Despite these setbacks, PwC's global revenue growth remained comparable to its competitors.
Boeing's Financial Struggles
- Boeing's financial troubles stem from crashes, the pandemic, a labor strike, and a $6 billion third-quarter loss.
- To address this, they're selling $19 billion in shares, cutting jobs, and delaying the 777X launch.
Volkswagen Restructuring
- Volkswagen plans to close at least three German plants, cut thousands of jobs, and reduce pay by 10%.
- These measures are driven by competition in China, slower sales, and the transition to electric vehicles.